my online journey

Japan finance minister under fire for Nazi comment

YouTube CustomInk CEO and founder, Marc Katz Before he founded CustomInk, an online apparel retailer that generates more than $70 million in annual sales, Marc Katz was a financial analyst on Wall Street. The profitable business employs more than 250 people from its McLean, Virginia headquarters. One of Katz’s first investors was his father, a 3-time entrepreneur, who didn’t think his son had a great idea. “I told him I thought it was a terrible idea,” Steve Katz tells Forbes . “Selling T-shirts on the Web, I just didnt see how you distinguish yourself, so it would be a race to the bottom in terms of price…Its amazing what you can do with a mediocre idea extremely well executed.” Neil Capel was initially a consultant for Morgan Stanley.

India’s Finance Minister Vows Not To Overspend

“I would like to retract the remark.” Aso, who is also deputy prime minister, made the comments about Nazi Germany during a speech Monday in Tokyo organized by an ultra-conservative group. Critics of the ruling Liberal Democrats are uneasy over the party’s proposals for revising the U.S.-inspired postwar constitution, in part to allow a higher profile for Japan’s military. Japan and Nazi Germany were allies in World War II, when Japan occupied much of Asia and Germany much of Europe, where the racial supremacist Nazis oversaw the killings of an estimated 6 million Jews before the war ended in 1945 with their defeat. Japan’s history of military aggression, which included colonizing the Korean Peninsula before the war, is the reason its current constitution limits the role of the military. According to a transcript of the speech published by the newspaper Asahi Shimbun, Aso decried the lack of support for revising Japan’s pacifist constitution among older Japanese, saying the Liberal Democrats had held quiet, extensive discussions about its proposals.

Emerging market countries often use reserves to fend off speculative attacks against its currency, and to provide a cushion against external debt service. The FinMin said that Indias target for this years fiscal deficit was still 4.8%. It is a red line and it will not be breached, he said on a day that economic data out of the country showed the government had run up a fiscal deficit of nearly half the budgeted amount in the first quarter. The fiscal deficit for April-June quarter was 48.4% of the budgeted amount compared with 37.1% in the same period last year, the ET reported Thursday.